What happened Shares of Aurinia Pharmaceuticals (NASDAQ: AUPH), a clinical-stage biopharmaceutical company focused on rare diseases, were up 10% as of 11:05 a.m. EDT on Tuesday after management issued a press release that contained upbeat clinical and financial news. So what Management wanted to get three main points across to investors today. First, its last patient study visit has occurred in its phase 3 AURORA program. This trial is studying its lead compound, voclosporin, as a hopeful treatment for lupus nephritis. Efficacy and safety data from the trial are on track to be shared with investors before the end of the year. Second, the company has sold 2.34 million shares of common stock using its at-the-market offerings for a weighted average price of $6.40 each. This capital infusion raised about $15 million and came at a considerably higher price than yesterday's closing price of $4.67. Third, management announced that its AURORA II study, which is a continuation of its AURORA trial, is proceeding as planned. Image source: Getty Images. Traders are reacting favorably to the plentiful good news. Now what 2019 should be an exciting year for Aurinia's investors. If the phase 3 data from the AURORA trial looks good, the company will file for approval soon after. Success would most likely cause the share price to shoot much higher. However, it's still hard to gauge just how well voclosporin will perform in its phase 3 trial, which is a big reason investing in clinical-stage pharma companies is so difficult. It won't be long before we know more, so my plan is to watch with enthusiasm from the sidelines. 10 stocks we like better than Aurinia PharmaceuticalsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurinia Pharmaceuticals wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 Brian Feroldi has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source